Fortune Rise Acquisition Co. (NASDAQ:FRLA – Get Free Report) rose 0.1% during mid-day trading on Thursday . The stock traded as high as $11.17 and last traded at $11.17. Approximately 124 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 71,364 shares. The stock had previously closed at $11.16.
Fortune Rise Acquisition Price Performance
The stock has a 50 day moving average of $11.14 and a 200-day moving average of $11.04.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of FRLA. Clear Street LLC lifted its stake in Fortune Rise Acquisition by 2.6% during the 4th quarter. Clear Street LLC now owns 129,550 shares of the company’s stock valued at $1,420,000 after acquiring an additional 3,323 shares during the period. Spartan Fund Management Inc. acquired a new position in Fortune Rise Acquisition during the fourth quarter valued at $343,000. K2 Principal Fund L.P. purchased a new stake in Fortune Rise Acquisition in the third quarter valued at $357,000. Cowen AND Company LLC acquired a new stake in Fortune Rise Acquisition during the 3rd quarter worth about $798,000. Finally, Mizuho Securities USA LLC purchased a new position in shares of Fortune Rise Acquisition during the 3rd quarter valued at about $1,171,000. 52.89% of the stock is currently owned by hedge funds and other institutional investors.
About Fortune Rise Acquisition
Fortune Rise Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Clearwater, Florida.
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